CATARC report - November 2016: New energy vehicle trends in China
New energy vehicle production in October declines on monthly and yearly basis
Production volumes in China (Summary)
This report is based on a report by Beijing CATARC Automotive Technology Development Company*;
MarkLines has edited and translated the company's report to prepare this report. Click here for a list of CATARC reports.
Production volume of new energy vehicles (electric vehicles [EVs], plug-in hybrid vehicles [PHVs], and fuel cell vehicle [FCVs]; excluding vehicles equipped with lead-acid batteries) in October 2016 declined by 2.9% month-over-month (m/m) and by 13.5% year-over-year (y/y) to 42,493 units. Compared to the same month in the previous year, production volume declined by approximately 7,000 units. Furthermore, while production volume in the fourth quarter of 2015 expanded, that of September and October 2016 declined year-over-year for two consecutive months. The main reason for the decline in production was because validation criteria for drive batteries and subsidies for commercial vehicles were not clarified.
Looking at production share of new energy vehicles for October 2016 by vehicle type, passenger cars accounted for 77% of the production share, marking a record high, and special-purpose vehicles increased by 6 percentage point m/m. Of the passenger vehicles, passenger EVs increased by both month-over-month and year-over-year.
Fig. 1 Production volume of new energy vehicles (May 2016 to Oct. 2016)